Yes we all know that the company's board of directors has authorized management, in its discretion, to purchase up to 1 Billion shares of PYPR common stock over the next 12 months. The repurchase program is effective immediately. Any repurchased shares will be held as treasury stock.
This was announced Nov 16 2006.....12 months would bring us to Nov. 16 2007.
So why would you worry about something that was just announced 2 trading days ago?
Do you think that's all going to happen in 48 hours?
Management has the discretion to make the buy back....maybe this is just a fluff PR, that they only need to buyback if it was a last resort. There would be no good reason to buyback if the share price keeps rising steadily which it did for the last few weeks. Even with small drops, there is no need to panic.
If the pps continues to stay in the trading range of .0002-.0007, which could be considered normal, there would be no need to buyback any unless it fell below that range.
